BC’s Secondary Suite Incentive Program Available for Homeowners
British Columbia’s housing market has long faced challenges in providing affordable rental options for its residents. To help combat this challenge, the provincial government has introduced the Secondary Suite Incentive Program (SSIP), a forward-thinking initiative aimed at increasing the availability of affordable rental units by empowering homeowners to create secondary suites within their properties.

What is the Secondary Suite Incentive Program

The SSIP program was launched in May 2024, to offer financial assistance to eligible homeowners who wish to develop new secondary suites or accessory dwelling units on their primary residence properties. This includes secondary suites such as garden suites, laneway houses, or carriage homes. The program provides forgivable loans covering up to 50% of construction costs, with a maximum loan amount of $40,000.

Eligibility Criteria

To qualify for and participate in the SSIP, homeowners must meet the following specific requirements:
  • Residency and Ownership: Applicants must be Canadian citizens or permanent residents, as well as, be the registered owners of the property.
  • Income: The combined annual income of all listed homeowners should be less than $209,420.
  • Property Value: The property’s assessed value must be below $2,150,000 and located within approved municipalities or regional districts in B.C.
  • Existing Mortgages: property should have no more than two existing mortgages.
  • Construction Permits: A building permit for the suite must have been issued on or after April 1, 2023. Even if construction has already started or is completed, homeowners can still apply, if all of the eligibility criteria are met. For more details or to apply, visit the BC Housing website.

Benefits of Adding a Secondary Suite to Your Primary Residence

Creating a secondary suite to your primary residence offers a number of advantages:
  • Additional Income: Homeowners are able to generate rental income from leasing the suite at affordable rates. This is considered a mortgage helper.
  • Increased Property Value: A well-designed secondary suite can enhance the overall value of the property and sometimes add square footage as well.
  • Community Impact: By providing affordable rental options, homeowners contribute to alleviating housing shortages in their communities.

Application Process

Applications for the SSIP are accepted on a first-come, first-se basis until annual funding is exhausted. Interested homeowners are encouraged to review the program guidelines as a first step and if they qualify to prepare the necessary documents to support their application. Detailed information, including application resources and how-to guides, is available on the BC Housing website.

Ready to Transform Your Home?

If you’re considering adding a secondary suite to your home and wish to take advantage of the SSIP, our renovation team at Bright Future Designs is here to assist you every step of the way. From initial design concepts to final construction, we work together with you to ensure that your new suite meets all of the program requirements and enhances your property’s appeal long term. Contact us today to learn more about how we can help you create a functional and attractive secondary suite while contributing to affordable housing solutions in B.C. For comprehensive details about the Secondary Suite Incentive Program or to apply, please visit the BC Housing website.